Zurich-based engineering and infrastructure partner for investment solutions, Leonteq has joined efforts with banking software solutions provider Avaloq group to provide financial institutions using the Avaloq Banking Suite further automation in the offering and handling of structured products.

An upgradable interface between the Avaloq Banking Suite and the Leonteq platform will be created and will form the core of the collaboration. In a first step, it will become possible to book Leonteq investment products (including those of its white labelling partners) structured for clients using Leonteq's "Constructor" directly in the Avaloq Banking Suite at the respective custodian bank.

"Following the recent announcement of the 'Smart Data' initiative focusing on the development of intelligent tools and therefore longer-term on increased margins, the cooperation with Avaloq focuses on processing and therefore also translates into a reduction of costs on the client side," said Jan Schoch, chief executive at Leonteq. "Both initiatives strengthen our white-labelling business model, increase the attractiveness of our platform and are intended to contribute to a rise in market share and revenues."

Leonteq said that client advisors using this system will benefit from shortened work-processes and increased efficiency, as many steps that have been carried out manually to date will be eliminated.

Francisco Fernandez, chief executive of Avaloq said that the open architecture of the Avaloq Banking Suite will facilitate a rapid set-up and further expansion of the interface.

Leonteq's Constructor is a web-based application that enables intermediaries and professional investors to create and calculate structured investment products on over 1,000 underlyings and in a wide variety of currencies. The Constructor is currently only offered in Switzerland, however, plans for a rollout to other countries are underway.

The Swiss provider also said that further features are planned for the future as part of the collaboration between the two firms.

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